A latest survey on the acceptance of the Euro by Europeans showed anxiety and reluctance to use the Euro for routine purchase or bank transactions and in this background governments in most of the 11 European Monetary Union (EMU) countries will have to launch a major public relations campaign to make the Euro a success.

The compromise formula worked out between France and the rest of its EU partners on the issue of the presidency of the new European Central Bank has come under sharp attack in most of the EMU countries except France with the Euro accord even creating trouble for German Chancellor Helmut Kohl.

The "clumsy" compromise reached by EU leaders on who should head the bank led to protests in Germanywhose public is by and large skeptical of the new currency.

Even business leaders who are the staunch supporters of the currency union criticised the bargain under which Wim Duisenberg, the bank's first president, will serve only part of his eight year term to make room for French central bank governor Jean Claude Trichet. Hans Olaf-Henkel, chief of Federation of German Industry said in a statement here that it was extremely regrettable that the presidency of the European Union Central Bank could be resolved only through a "lazy compromise."

The "term-splitting" cast a shadow over the much prized autonomy, he said. The controversial agreement comes at a bad time for the main Euro architect, Kohl, who is trailing in the opinion polls and when Germany's unemployment is at a record high.

Kohl defended the deal reached at the EU summit in Brussels but was not spared of the avalanche of criticism with one Social Democrat leader saying the top people have allowed themselves something they would not have letthe national parliaments do that is break the Maastricht Treaty. The widely read weekly Bild said in a editorial that the compromise showed that office of ECB chief, who is supposed to watch-over the Euro in all its independence, has become a football to be kicked around by political summers.

Economic analysts said any impression that the terms of Treaty were being diluted could lead to a loss of of confidence in the Euro on financial markets.With a population of 290 million and annual output of goods and service valued at $ 6.3 trillion the Euro Zone is expected to export nearly 14 per cent of its Gross Domestic Product, compared with 12 per cent in the case of the US which has a population of 266 million and GDP of $ 8.5 trillion.